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The Growth Of Gross Domestic Product
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The new paradigmatic shifts, since the liberalisation process took off, after unshackling the socialistic edifice, has brought a perceptible change in the Indian economy. The growth in real Gross Domestic Product (GDP) during the last three years, i.e. during 1994-1997, ranged from 7.2% to 7.5%. The current year, 1997-98 is an exception at 5%. Wh ....
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....y 15% to 15.5% during 1997-98, shot up to 17% in the same year.
The balance of payments situation in 1997-98 remained sound. The current account deficit fell to about 1.0 % of GDP in 1996-97, reflecting mainly the slow down in industrial growth and investment and growth of net invisibles. In 1997-98, the current account deficit is expected to be ab.... |
| Word count: 1062 |
Page count: 4 |
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